E-mail, Feeds, 'n' Stuff

Wednesday, June 1, 2011

Tax excrement financing

The curmudgeonly Randal O'Toole gives the "urban renewal" types an earful here. If you read the whole thing, he's got quite a list of boondoggles from all over. And Charlie Hales shows up as a poster child for cronyism in one of them. An interesting policy paper to counter the Acts of the Planning Apostles.

At least 4) might be achieved. It is likely that Clackamas Co. will have voter approval of UR on the Nov. ballot. But, once again our State legislature has done nothing concerning UR.

With his factual based analysis, O'Toole even calls for elimination of UR. He bases it mostly on the fact that development/improvements would happen in a "blighted" area or a nearby area anyway. Contrary to what Charlie Hales and Leonard said several times in hearings concerning South Waterfront, development would have occurred in the area without any major public subsidies. As stated many times here, there were over four major development projects planned for SoWhat before the City instigated the carrot stick of Urban Renewal free money for the developers to swarm in.

"Second, in most states, TIF districts gain when other tax entities persuade voters to increase taxes. Say a school or library district convinces voters to pass a bond levy that increases taxes by $1 for every $1,000 of property value. Taxes are increased both inside and outside of the TIF districts, but the increased revenues inside the TIF districts go to TIF, not to the school or library district."

Legend, your quote is a major point that was missed by most of the media in the PPS Bond/Levy Measures. O'Toole certainly points it out in his "2)" item mentioned above. With close to 20% (Oregon's statute maximum is 25%)of Portland's land area in URD's, the Measures became a double negative if you're really trying to help PPS.

There is also the inequity of where Portland's 11 URDS (with Sam proposing another from PSU to Downtown) are located. They are mostly in the highest property value areas of Portland-downtown and along mass transit lines. That means on a dollar-to-dollar tax percentage basis there is more dollars being lost for schools, etc. than if URD's were in truly "blighted" areas.

Also not discussed by the media (or PPS) is that county assessors are allowed to increase property taxes minimally 3% per year (back in the early/mid 2000s the increases averaged 6% to 8%. These increases within URD's, beyond the tax base formed at time of a URD's inception, do not go to schools, police, fire, etc., but is directly added to the TIF dollars of each 11 URD's in Portland, and this applies to the rest of the state too.

Several of our regional fire districts, police agencies, and a few school administrators and school boards are learning these facts. And a few are doing something about it, and I hope more join them. Even the so-called wealthy LO has discovered the Urban Renewal Legend falsity .

Road Work

Miles run year to date: 156
At this date last year: 225
Total run in 2014: 401
In 2013: 257
In 2012: 129
In 2011: 113
In 2010: 125
In 2009: 67
In 2008: 28
In 2007: 113
In 2006: 100
In 2005: 149
In 2004: 204
In 2003: 269